Most applicants are approved within one to two weeks of submitting a finished application, and the fastest can be approved in as little as 72 hours. Once you're approved, the loan can be drawn down within 24 hours.
Where the time goes
- Checking you're eligible: 60 seconds, with no credit search.
- Building your documents: with myplan, the workbook itself takes around 30 minutes, rather than the days or weeks it usually takes to write from scratch.
- Assessment: most applicants are approved within one to two weeks of submitting a finished application.
- Your loan agreement: you sign it electronically, so there's no waiting for paperwork in the post.
- Getting the money: once you're approved, the loan can be drawn down within 24 hours.
What "finished" means
The clock starts when your application is complete: your business plan, personal survival budget and cash flow forecast, plus your supporting documents. See What documents do I need?.
What makes the difference
The biggest factor is how ready your application is when it goes in. Things that slow it down:
- documents that need reworking before they're ready for assessment
- slow replies when your advisor asks for more information
Things that speed it up:
- replying quickly to your advisor
- having your bank statements and ID ready to upload
- a realistic plan and forecast, so there's less to rework
Last reviewed: 8 October 2026